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 Replies: 7 / Views: 1,128 |
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Valued Member
United States
344 Posts |
From what I understand is that coins that are now produced by the mint that have been found to be oblonged or severly clipped will very seldom if ever be found in any bank rolls or U S Mint bags of coins because of the quality control and the machines they use.
Any severe coins found like these are most likely pilfered by someone from one of the big coin distributors.
From what I understand they are suppose to be tossed in a bin and returned to the U S Mint. I think it is unfair to the general public to not have the opputunity to find such errors. Though that being said I suppose it is against the law to remove such error coins from these large coin counting companies and then sold to the general public for profit.I understand the U S Mint can confiscate such error coins if they wanted to.
IF anyone wants to comment on this or have any knowledge of how these strange coins seem to find their way out of the mint please add a comment.
I guess it is actually taking a risk at buying such coins for fear if I try to resale it and get caught then what?
Like what are the total odds that someone can actually find a 2000 or above coin pressed on a different planchet (nickel,dime,penny or any combination) and find it in a us mint bag or a bank roll of quarters ?
It is crazy that coins such as these only find their way to certain dealers. I can see a silver coin passing through with a missing clad on one side or double dies but give me a break on the oblong or severely clipped coins and so forth ..
With sections of coin material a foot long or so being sold that have the coins punched out is it possible they can be punched with bogus dies to make clipped coins. You have to agree that the talent in the machinist field is very very high. Edited by mishap-coins
10/10/2006 10:17 pm
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Valued Member
Ireland
498 Posts |
As one article on other website most of the unusaul coin or error are slip by people either working in the mint even by the strict policy implemented by the US govt. and the mint,
there are still people who do this thing that is against the law,as I commented on the article,that most error coin that looks very obvious or value as a premium is unlikely to be found in circulation, even you can found one in the market the value is very high since other collector have no amount of that kind of money it will mostly end up in people who follow this kind of collection,
since I am a novice and not base in the US there are still error and variety that can be found in circulation but needed a keen eye and knowledge to identify or find one. as for most of the major error most of them cannot be found in circulation I will just satisfy my self on error found in circulation.
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Valued Member
 United States
344 Posts |
SO should one stay away from buying these coin errors even though a major slabbing company has put it in a sealed case.? Is the slabbing company now apart of the problem by promoting them, when they know it maybe against the law.? I am surprised more haven't commented on this subjct. Is it against the law to own one ? I heard tell that the u s mint may begin to sell error coins down the road.
Edited by mishap-coins
10/11/2006 07:18 am
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Bedrock of the Community
United States
20753 Posts |
With the Mint producing billions and billions of coins, I doubt very much that they or any counting organizations can spot all the error coins that are produced. The mint is made of people that are just that, people. People make many errors all the time and government workers are just people. It may actually be fun to break the monotiny of the job to purposely release error coins. So called strict polocies of our government being disrupted are the things we hear about on the news just about every day. Anyone that thinks the Mint watches every single coin leaving the place is dreaming. I'm sure the people that work at our Mint are a little more interested in coffee breaks, raises in pay, their kids at school, going for drinks on Friday after work, etc.
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Valued Member
United States
344 Posts |
I guess your right about the workers and it doesn't make it right by your statements,answers sounds shady though the sure thing is that some error seeking person will find it or receive these coins from an insider and then there is always that chance that we the people become the ones that cull these coins for the U S Government and then show them off for sale etc. Ultimately the U S Mint or federal reserve then has the opportunity to enforce or not enforce their concept of their rules or laws. Besides which wouldn't a mule or a coin smuggled out of the mint that has a deformity or errror would then be considered a counterfiet in reality then.  Edited by mishap-coins
10/11/2006 09:59 am
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Valued Member
Ireland
498 Posts |
If we are going to study or know the rules,regulation,policy or law of both US goverment and the US mint hope that expert who are members and guest in this site may bring ligth to people who are inquiring on error and variety coins,Since this site is also dedicated on watching error coins on other site and they have a section on one of the grading company who specialized on error this will be an easy task for them.As for the mint that you said is planning to sell error coins I think it is one way of the US goverment to earn an income or revenue for public funds they are also planning to sell gold,If that is the case it will be harder for collector who have a minimal budget to have an error coin in the future.
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Valued Member
United States
344 Posts |
I suppose Josie that if this were a post about a 1943 DD copper penny everyone would of jumped on it.It appears because this area of coin collecting seems to be unspoken by many even though it is known by all. Haven't any idea why comments have been limited to this area of error coin collecting. Makes one wonder all the more doesn't it Josie. Almost like you can hear a pin drop.  Edited by mishap-coins
10/11/2006 11:04 pm
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Valued Member
Ireland
498 Posts |
Maybe it means we have to research on it and post the result here.
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Replies: 7 / Views: 1,128 |
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Posted 10/11/2006 07:17 am
